Four major Nairobi Securities Exchange (NSE) indices posted gains in the week ended 6 November 2026, ending a period of declines. The recovery was supported by a large block trade in which South Africa’s Nedbank Group acquired a 66 per cent controlling stake in NCBA Group, alongside positive sentiment from Safaricom’s half-year results.
According to data referenced by the Central Bank of Kenya and market reports, the Nairobi All Share Index (NASI) rose 1.68 per cent during the week. The NSE 25 Index gained 3.14 per cent and the NSE 20 Index advanced 1.37 per cent. Market capitalisation increased by 1.68 per cent to approximately KSh 4.023 trillion, with more securities advancing than declining.
Nedbank-NCBA Block Trade Drives Turnover
The main driver of activity was the completion of Nedbank Group’s acquisition of roughly 1.087 billion NCBA shares on 3 November 2026. The block trade pushed that day’s equity turnover to KSh 107.7 billion, the highest single-day figure on NSE records. Foreign purchases linked to the transaction reached approximately KSh 107.4 billion.
Nedbank paid a combination of cash and newly issued shares to accepting NCBA shareholders. The deal gives the South African bank control of NCBA, which remains listed on the NSE with about 34 per cent of its shares held by the public. Trading in NCBA shares resumed after a temporary suspension to facilitate settlement of the transfer.
Other Market Support
Banking stocks contributed to the broader recovery. Safaricom’s half-year results, which showed group net income of KSh 58.2 billion (up 35.9 per cent), also supported sentiment in the final sessions of the week. Equity turnover for the full week was elevated largely because of the 3 November block trade; ordinary trading volumes returned closer to normal levels in subsequent sessions.
Read also:NSE Equity Turnover Drops 60.6% to KSh405.5 Million
Bond market activity was weaker. Secondary bond turnover declined during the week as investor focus shifted toward the equity market event.
What Investors Should Watch
The Nedbank-NCBA transaction has increased foreign ownership in one of Kenya’s larger banks. Investors will monitor how the new controlling shareholder influences NCBA’s strategy, capital allocation and dividend policy in the coming quarters. Attention is also likely to remain on banking and telecommunications counters following the recent earnings releases.
Further weekly market statistics are available from the Nairobi Securities Exchange and the Central Bank of Kenya’s Weekly Bulletin.
Sources
- The Star – NSE rebounds as Nedbank deal, Safaricom profits lift investor sentiment
- Nipashe Biz – NSE Market Activity Surges Following Nedbank’s KSh107.3 Billion NCBA Deal (citing CBK Weekly Bulletin)
- Kenyan Wall Street – Nedbank NCBA block trade foreign inflow figures
- TechTrendsKE – Nedbank NCBA Acquisition Transfers 66% Stake